Week 15 reading reflection

1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations?
What surprised me the most, was that SKS Microfinance has a 99.5% repayment rate.
2) Identify at least one part of the reading that was confusing to you.
In this article I didn't find anything confusing. The author did a good job explaining her business and it's processes.
3) If you were able to ask two questions to the author, what would you ask? Why?
How did you go about handling situations that involved gangs?
How hard is it to be able to utilize technology with your clients in those types of areas?
4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?
There was nothing that I believe the author was wrong about. I think the author did a great job and has a great company.

Final Reflection

- Well, with about 70+ assignments that needed to be completed this semester, there were quite a few different experiences. The ones that stuck out the most though, where the assignments that needed to be recorded, because those were the assignments that put me out of my comfort zone. The highs for this class would probably have to be the video recording assignments, those were the easier assignments and required less actual work. The lows for this class would definitely have to be the amount of assignments due each week in this class.

- I would have to say the most formative would have been the entrepreneur interviews and the reading reflections. The experience that I will probably remember for years would be the elevator pitch's. What assignment I am most proud of myself for accomplishing, is the venture concepts and idea napkins.

- I would have to say I'm not exactly an entrepreneur per say, but I definitely have a better mindset now then I did before. Especially after the wide range of assignments that we had to complete in this class.

- If you were going to journey down this path, I will say, share before you declare. To perform well in this class you definitely have to check canvas everyday, because there can be around four assignments due every week. Also, if an assignment involves a recording, make sure you do them in advance, because it can be hard to find people willing to be recorded. One way to foster the mindset to perform well in this class, is stay positive and keep an open mind to peoples opinions about your venture.

Venture Concept No. 2

Introduction

Just wanted to give you a quick idea of what my product is before I tell you why I have the opportunities I have and why it’s innovative. Basically, I want to build off the idea of the steering wheel quick release you see in race cars and incorporate it into cars right off the factory lot. I believe this idea will help promote less vehicle thefts in the country and even around the world.

                                

The pictures above are of the aftermarket steering wheel quick release, where I would be using a similar idea and building my product around that idea.

Opportunity

An opportunity is a group of customers with unmet or under-met needs. I believe my customers that have this unmet need or under-met need are basically anyone with a new vehicle and a used vehicle as far back as 5 years. The customers have this need because there is an exceptionally high number of car thefts a year. I think the force in our environment that creates this opportunity is the economy. Some people have to resort to these types of behaviors, so they can make money by stripping cars. The market opportunity is really for anyone who wishes to buy my product. Speaking geographically, my market would have to be mainly in California, because seven of the top 10 cities with the highest rate of vehicle theft in 2014 were in California, according to the National Insurance Crime Bureau. The only way the customers are satisfying the need they have at the moment is really only through anti-theft alarms and some use tracking devices, but it doesn’t keep your car from being drivable. There is also the aftermarket route, but this route gets rid of the factory air bag, which creates a definite safety issue. I believe this opportunity came be very big if it’s pitched and marketed right, because there is a very large market of new car buyers that are not going anywhere.

Innovation

An innovation is defined as a new or creative service, product, or process that addresses the customer’s needs. I believe my product will be innovative because a motor vehicle is stolen in the United States every 46 seconds, and no one has thought of putting my idea in a vehicle right off the factory lot. As you saw above in the pictures, my idea revolves around an aftermarket steering wheel quick release. What I plan to do is design my own quick release to avoid any issues and work with different car manufactures to build their factory steering wheel around my product. As I said earlier, if you buy an aftermarket steering wheel quick release the only option you have is an aftermarket steering wheel that loses the airbag. So, working with the car manufactures to build a product that retains the airbag and all the safety features, could lead to a very innovative product with a lot of opportunities. Also, the steering wheel you get with the car is the only one that will work for your car. All of this will lead to me making money, but at the moment I’m not sure how I will charge the car manufactures as I will be working with each one them to build my idea around their factory steering wheel. My product would most likely be an option like a special feature where every car sold with my product, I will receive a certain percentage of the amount extra for the added feature of the car.

Venture Concept

A venture concept is defined as the application of a specific innovation to address a specific opportunity. So, with the application of my innovative idea to put a factory steering wheel quick release into cars right off the lot, will definitely reduce the amount of car thefts throughout the country and eventually the world. It will reduce the amount of car thefts, because if a car thief decides to walk up to your car in the middle of the night while your sleeping and sees that your car doesn’t have a steering wheel, it will most likely deter the thief. I think customers will want to buy my product because there is no other product like it at the moment that comes as a factory option from the dealer and since there is no other product like it, I will not have too much to worry about when it comes to bringing customers over to my product. Although, I do have a little competition when it comes to the aftermarket steering wheel and quick release, but like I said there are no options out there that retain the airbag. As a business, I would locate my offices in high theft areas where manufacturers will be interested in my product and possibly work with me to create other anti-theft products for their vehicles.

Three Minor Elements

·       I believe my most important resource is my ability to create great customer service. There are so many bad and negative reviews about businesses out there, but it’s because of their customer service and not the product itself.

·       For my next venture, I would create another theft deterrent that a car manufacture could incorporate into their vehicles. The idea would consist of posts like a jack that lift the car when you park and lock in place to keep your car from being movable. These post will extend and retract into the frame of the car with a hydraulic system.

·       Hopefully in five years, I would successfully get my product in the market and creating a profit to help research new ideas. As an entrepreneur, in the next decade I would like to have my next venture be a success as well, to create an ultimate car theft deterrent. But it all rides on how successful I am with my first venture, to determine if my visions can come to light.

Feedback

Based off the feedback that I received from my fellow classmates, it did not lead me to changing much on my concept. The feedback I did get, had to do with the fact that customers that use my product will not want to carry the steering wheel around with them wherever they go. I believe this is more of a personal preference and if you want that extra blanket of security, this will be a product to invest in. Most thefts of vehicles happen in residential areas where people get too comfortable or on side streets out side of their home. So, even if you don't want to carry it with you into the store, just having it available to take inside with you when you get home, even if it means taking an extra trip, could definitely benefit you.

- William Garlock

Elevator Pitch No. 4

For my fourth and final elevator pitch, I did not change anything too drastic. This time it was more of me just practicing my pitch. I did only get one comment on my 3rd elevator pitch and it suggested I be a little more enthusiastic during the pitch, but I'll let you decide if I hit that point or not.

- William Garlock

Week 14 Reading Reflection

1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations?
After looking at the table of Top Ten Countries with which the U.S. Trades, I was not aware that Canada was our largest partner.
2) Identify at least one part of the reading that was confusing to you.
I don't want to go as far as saying confusing, but once chapter 4 started talking about global environment of entrepreneurship and going into economics and so forth, then I had to put my thinking cap on.
3) If you were able to ask two questions to the author, what would you ask? Why?
In your opinion, would you rather be an entrepreneur or a cooperate entrepreneur?
What skills do you need to become a cooperate entrepreneur?
4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?
After reading through the chapters I did not find anything that I particularly thought was wrong or disagreed with.

- William Garlock

Google Gold

1) A discussion of your general approach and strategy to search engine optimization (SEO). What were some of the activities you did for each blog post to pursue SEO?

 I did find it hard to complete assignments and also try to incorporate a strategy that was the same into each post, since a lot of the assignments were different. So at the end of each post I incorporated my first and last name as you will find below.

2) What were your keywords. How did you select those keywords? Did you change or refine your keywords through the semester?

Like I said above I incorporated my name at the end of each post, which is also the name of my title. Other then that, I really didn't focus on key words, besides the entrepreneurial terms used in each assignment. If I were to add keywords, they would be in hashtag form and include popular references.

3) How did you use social media to enhance your SEO efforts? What your your surprises or general impression of using social media to improve your blog's profile? Was social media generally receptive of your blog, or did it get ignored?

I actually do not use social media anymore, so I didn't feel comfortable posting my blog out of nowhere and reactivating my accounts. I'm sure if I did use social media to promote my blog, it would definitely enhance my SEO as it would create more view and promote more comments.

4) What was your most "viral" post? In other words, which post obtained the most traffic? Why do you think?

My most "viral" post was my first elevator pitch. Combined it had the most comments (6) and views (16). I would think it had the most, because it was the first elevator pitch and other fellow classmates might have searched around and viewed pitches to get ideas before they started theirs.

5) Finally, did you make it to the first page of Google results for your keywords? If not, what page of results did you make it to?
I made it to the first page of google by searching "ENTWILL3003", which is part of my URL and is not very common. So, I'm not surprised it's on the first page. Since it's part of my URL, it also brought up results of comments on other classmates blogs. 

- William Garlock

Very Short Interview, Part 2

1. Well my first interview with Bill was my first time actually going out and interviewing someone. I will say it wasn't too awkward since I knew Bill through my Dad. That interview was also the ice breaker I'd say to going out of my comfort zone to start interviewing people. The interview itself was very informative, it taught me, in his opinion, what it means to be an entrepreneur. Also, some of the things I should learn before venturing out for myself to be an entrepreneur.

2. Interview
- What was your career path to arrive at your current position?
It started when I was experimenting with raw materials when I had a need. I had to fix a fiberglass corvette fender and realized fiberglass was something I could work with. I started molding and building with fiberglass. I grew up on a river and was always into boats and decided to build them. Ever since then I have changed and perfected my molds to build a competitive business.

- What are some skills that are crucial to possess in order to succeed as an entrepreneur?
Some skills that would be crucial would be having a marketing sense, goals, a business strategy, skills in your particular field, and fiscally responsible.

- If you had one piece of advice to someone just starting out, what would it be?
Don't go into business for yourself. But on a serious note, you have to be disciplined and be educated on the products and services you want to offer to the fullest. Get a good attorney and a good accountant.

3. I would say I have come a little ways since taking this class, I have more of a entrepreneurial mindset and putting all my ideas and concepts into play. Like I said, now that I have come a little ways, talking to Bill was a little easier now that I know more about what it takes to be an entrepreneur. I've gotten better at the interview process and being able to hold conversations now that I know more about entrepreneurship as well, which helped out a lot.

- William Garlock

Week 13 Reading Reflection

1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations?
What stood out to me in this chapter, was the sheer length of the checklist for analyzing a business.
2) Identify at least one part of the reading that was confusing to you.
One part of the reading that was confusing at first was the pricing formula, but after going over it a couple more time it started to make sense.
3) If you were able to ask two questions to the author, what would you ask? Why?
What is the most important factor to consider while performing due diligence?
How long has it taken you to complete a checklist for analyzing a business if you have completed one?
4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?
I didn't disagree with anything the author had to talk about in this chapter.

- William Garlock

Celabrating Failure

1) Tell us about a time this past semester that you failed -- whether in this class, or outside of this class. Don't spare any details! It'd be even better if there was something you tried several times this semester, and failed each time.

To be honest, I fail a lot. Putting it that way sounds pretty bad, but I work at a bank as a teller, where I have to refer or cross sell products to my customers. I couldn't even begin to tell you how many times customer have told me "no" or "not interested", and its been worse then that before.

2) Tell us what you learned from it.

Basically what I have learned from all the times I had an unsuccessful refer to a customer, you are going to fail... a lot... way more then you are going to succeed. If that wasn't the case, I would have twice the sales.

3) Reflect, in general, on what you think about failure. Failure is hard, isn't it? It's embarrassing, sure, but it also means that we have to change something about ourselves. Talk about how you handle failure (emotionally, behaviorally). Finally, talk about how this class has changed your perspective on failure -- are you more likely to take a risk now than you were four months ago?

I believe failure is hard, but you just have to take it in a positive manner and learn from your mistakes. If you take failure too negatively, you're never going to have the drive to fix the areas you're failing in so you can succeed. My current position has taught me a lot about failure and so has this class. I've learned that if you fail, try again, and keep trying until you figure out what you are doing wrong. Once you learn what you are doing wrong, fix it, and try again until you succeed.

- William Garlock

My Exit Strategy

1) Identify the exit strategy you plan to make. Do you intend to sell your business in the next 5 years for a large return? Do you intend to stay with the business for several decades and retire? Do you intend to protect the venture as a family business, and pass it down to your children?

What I plan to do once I get my product off the ground and making money. I would like to stay with the business to come up with more innovative ideas and then retire, but also keeping it a family business for future generations.

2) Why have you selected this particular exit strategy?

I chose to stick with this particular exit strategy, because I would like to give my future children and grandchildren guaranteed opportunities if they decided to follow the path of the family business.

3) How do you think your exit strategy has influenced the other decisions you've made in your concept? For instance, has it influenced how you have identified an opportunity? Has it influenced your growth intentions or how you plan to acquire and use resources?

I believe my exit strategy has definitely influenced my decisions toward my concept. One reason would be, because I would like to come up with new ideas to keep the business profitable for future generations, which I have already came up with one other idea that I could try and pitch to the market to keep profits up.

- William Garlock

Week 12 Reading Reflection

1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations?
I was surprised by the lack of planning for some entrepreneur business ventures. He also mentioned that the planning is informal and unsystematic, which you would think would be of more importance for something like a new venture.
2) Identify at least one part of the reading that was confusing to you.
I didn't really see anything as confusing, because in my management class I'm currently taking, we just got done going over the whole strategic planning process.
3) If you were able to ask two questions to the author, what would you ask? Why?
Which one of the key factors during the growth stage is the most important? Which planning style in your opinion is the most successful?
4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?
There was nothing that stuck out to me that led me to disagree with the author.

- William Garlock

Venture Concept No. 1

Introduction

Just wanted to give you a quick idea of what my product is before I tell you why I have the opportunities I have and why it’s innovative. Basically, I want to build off the idea of the steering wheel quick release you see in race cars and incorporate it into cars right off the factory lot. I believe this idea will help promote less vehicle thefts in the country and even around the world.

                                

The pictures above are of the aftermarket steering wheel quick release, where I would be using a similar idea and building my product around that idea.

Opportunity

An opportunity is a group of customers with unmet or under-met needs. I believe my customers that have this unmet need or under-met need are basically anyone with a new vehicle and a used vehicle as far back as 5 years. The customers have this need because there is an exceptionally high number of car thefts a year. I think the force in our environment that creates this opportunity is the economy. Some people have to resort to these types of behaviors, so they can make money by stripping cars. The market opportunity is really for anyone who wishes to buy my product. Speaking geographically, my market would have to be mainly in California, because seven of the top 10 cities with the highest rate of vehicle theft in 2014 were in California, according to the National Insurance Crime Bureau. The only way the customers are satisfying the need they have at the moment is really only through anti-theft alarms and some use tracking devices, but it doesn’t keep your car from being drivable. There is also the aftermarket route, but this route gets rid of the factory air bag, which creates a definite safety issue. I believe this opportunity came be very big if it’s pitched and marketed right, because there is a very large market of new car buyers that are not going anywhere.

Innovation

An innovation is defined as a new or creative service, product, or process that addresses the customer’s needs. I believe my product will be innovative because a motor vehicle is stolen in the United States every 46 seconds, and no one has thought of putting my idea in a vehicle right off the factory lot. As you saw above in the pictures, my idea revolves around an aftermarket steering wheel quick release. What I plan to do is design my own quick release to avoid any issues and work with different car manufactures to build their factory steering wheel around my product. As I said earlier, if you buy an aftermarket steering wheel quick release the only option you have is an aftermarket steering wheel that loses the airbag. So, working with the car manufactures to build a product that retains the airbag and all the safety features, could lead to a very innovative product with a lot of opportunities. Also, the steering wheel you get with the car is the only one that will work for your car. All of this will lead to me making money, but at the moment I’m not sure how I will charge the car manufactures as I will be working with each one them to build my idea around their factory steering wheel. My product would most likely be an option like a special feature where every car sold with my product, I will receive a certain percentage of the amount extra for the added feature of the car.

Venture Concept

A venture concept is defined as the application of a specific innovation to address a specific opportunity. So, with the application of my innovative idea to put a factory steering wheel quick release into cars right off the lot, will definitely reduce the amount of car thefts throughout the country and eventually the world. It will reduce the amount of car thefts, because if a car thief decides to walk up to your car in the middle of the night while your sleeping and sees that your car doesn’t have a steering wheel, it will most likely deter the thief. I think customers will want to buy my product because there is no other product like it at the moment that comes as a factory option from the dealer and since there is no other product like it, I will not have too much to worry about when it comes to bringing customers over to my product. Although, I do have a little competition when it comes to the aftermarket steering wheel and quick release, but like I said there are no options out there that retain the airbag. As a business, I would locate my offices in high theft areas where manufacturers will be interested in my product and possibly work with me to create other anti-theft products for their vehicles.

Three Minor Elements

·       I believe my most important resource is my ability to create great customer service. There are so many bad and negative reviews about businesses out there, but it’s because of their customer service and not the product itself.

·       For my next venture, I would create another theft deterrent that a car manufacture could incorporate into their vehicles. The idea would consist of posts like a jack that lift the car when you park and lock in place to keep your car from being movable. These post will extend and retract into the frame of the car with a hydraulic system.

·       Hopefully in five years, I would successfully get my product in the market and creating a profit to help research new ideas. As an entrepreneur, in the next decade I would like to have my next venture be a success as well, to create an ultimate car theft deterrent. But it all rides on how successful I am with my first venture, to determine if my visions can come to light.

- William Garlock

Week 11 Reading Reflection

1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations?
What I found that surprised me while reading this article, was how much goes into coming up with an innovative idea. For the most part, I somewhat thought most innovative ideas just pop up in your head randomly and bam, there's you idea.
2) Identify at least one part of the reading that was confusing to you.
Since my idea of innovation is a little less in depth as the authors, I would have to say the whole thing was a little confusing. After reading through the whole article I started to understand everything and it became less confusing.
3) If you were able to ask two questions to the author, what would you ask? Why?
What would be the best market to create an innovative idea or product? Technology? If any, what are some innovative ideas or products you have created that are successful?
4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?
I didn't disagree with anything the author mentioned in this reading.

- William Garlock

Amazon Whisperer

·        Describe the revenue drivers you currently include in your business concept for this class. Revenue drivers are the different ways you make money.

My revenue drivers for my company would be car dealerships/companies that want to incorporate my idea into their vehicles. Also, make factory replacements that are OEM quality that are exactly the same as the factory steering wheel that also incorporates my idea.

·        Describe what kind of product offering you believe should be next. What's the next thing your customers want?

To be honest I really don’t know what would be “next.” My existing product revolves around car security, so possibly the next best thing to prevent car theft. Maybe posts like a jack that lift the car when you park and lock in place to keep your car from being movable. These post will extend and retract into the frame of the car with a hydraulic system. This will also be a factory option just like my exist idea.

·        Describe how this "next" thing will enhance your existing product/service offering. Does it improve the user experience, does it increase customer switching costs, does it foster customer loyalty, etc.?

The “next” thing that I will offer will not really enhance my existing product, but it might improve the experience overall if you pair them together. It will be the ultimate car theft deterrent system. It will cost more to add the “next” item. If my original idea has proof it works, then the “next” idea might draw the attention of my customers creating some loyal customers.

·        Go to Amazon and try to find a product that is similar to the one you want to offer next. Describe the product. Include a picture of the product.

For my particular idea for my “next” product, it isn’t something that is purchasable on amazon. This idea would need come on the vehicles from factory or professionally installed. My original idea has products similar, although these products are aftermarket so they don’t include airbags and you also have to buy an aftermarket steering wheel as well. This product allows you to remove your steering wheel to help prevent theft.

                                           

·        What are the customer reviews for the product? What, exactly, do customers not like about the product? What do they like about it?

There are tons of aftermarket quick release options to choose from. More than half the bad reviews on these particular items are the quality of each one. In this market, quality is one of the deciding factors. For the good reviews, it’s the same thing.

·        Describe what design/usability changes you'd make to the product.

Since my idea will need to be incorporated into cars from factory, I would need to add safety measures. Basically, I would add a factory steering wheel with an air bag and build it all around a design similar to the aftermarket quick release system that is already proven safe.

·        Describe why you think this product would make a good addition to your current product/service offering.

I would have to say these two ideas paired together would definitely lower the chances of possible car theft.

- William Garlock

My Unfair Advantage

1) Patience
Valuable - Allows me to wait for deals or anything for that matter.
Rare - Can be, there are a lot of impatient people out there.
Inimitable - Yes.
Non- Substitutable - It is kind of its own resource so,  it's not replicable.
2) My Knowledge
Valuable - Yes, the more you know the better and having a degree from UF is a plus.
Rare - It all depends on the knowledge.
Inimitable - I would have to say knowledge is hard to replicate.
Non- Substitutable - Plenty of other universities, so you can replicate it.
3) Market
Valuable - I know the market my product is in, so valuable, yes.
Rare - The car market is quite large, so not too rare to know it.
Inimitable - Yes
Non- Substitutable - Can't replicate a specific market.
4) Financial Capital
Valuable - Very valuable, you need it to start your company.
Rare - Yes, its hard to come up with money.
Inimitable - Kind of illegal, so no. On a serious note, financial capital is hard to come by.
Non- Substitutable - Money is money, no other resources.
5) Customer Service
Valuable - Yes, a lot of people value customer service.
Rare - It's becoming more and more rare these days.
Inimitable - Yes
Non- Substitutable - Can't be replaced by other resources, customer service is customer service.
6) Social Media
Valuable - Valuable if you know how use them properly.
Rare - Not rare.
Inimitable - Yes
Non- Substitutable - Yes, there are other ways to advertise your business.
7) Creative
Valuable - Creativity can be very valuable to a business.
Rare - Yes, a lot of companies lack it.
Inimitable - Yes, there are a lot of creative people out there.
Non- Substitutable - I would have to say there no other resources to replace it.
8) Know My Customers
Valuable - yes, because knowing your customers needs is very important.
Rare - Not very, but some companies don't listen to there customers needs.
Inimitable - yes
Non- Substitutable -  I would have to say there no other resources to replace it.
9) Drive
Valuable - Yes, if you don't have drive or passion for your business, you might not be successful.
Rare - No, plenty of people have drive.
Inimitable - Yes
Non- Substitutable - I would have to say there no other resources to replace it.
10) Analytical
Valuable - Yes, because I can better analyze a situation and make the right decision
Rare - No, a lot of people possess this resource.
Inimitable - Yes
Non- Substitutable - I would have to say there no other resources to replace it.

Top Resource - I would have to say customer service is my top resource. Every job I have help since my very first one, has been customer service related. I feel having great customer service is one of the best ways to retain customers. If you take care of your customers, they will take care of you. There has been plenty of times were a customer has come in with an issue and just knowing how to handle the situation with great customer service, has brought them back 9 times out of 10 as a returning customer.

- William Garlock

Growing Your Social Capital

Person 1
1) Who they are and what their background is.
I talked to Josh a mechanic as well as a friend at the local Honda dealership who works on new cars for a living.
2) Which 'slot' you are filling with each person (i.e., domain expert, market expert, supplier), and how the person fills the spot.
Domain/industry Expert - He fills this spot because he is a technical expert who works on new cars daily.
3) A description of how you found the person and contacted the person.
I know him because I would periodically take my car to the dealership get an alignment and since my car isn't exactly "normal" I would to watch and explain some of the aftermarket parts that are installed.
4) The nature of the exchange you have with the person -- what favor did they do for you? What is the return expectation? 
He did me a favor by giving me feedback on ways to improve the idea and he didn't ask for anything in return.
5) How will including this person in your network to enhance your ability to exploit an opportunity?
I'll include him in my network so I can ask tough technical questions that may arise to help me stay ahead.
Person 2
1) Who they are and what their background is.
For my idea, it's basically any one who has a brand new car or is going to buy a new car. So, I chose to network with a co-worker who recently purchased a new car.
2) Which 'slot' you are filling with each person (i.e., domain expert, market expert, supplier), and how the person fills the spot.
Market Expert - She fills the spot because she falls with in the category of a new car.
3) A description of how you found the person and contacted the person.
I found the person through work and asked if she would take a moment to give me feedback on my idea.
4) The nature of the exchange you have with the person -- what favor did they do for you? What is the return expectation? 
They gave me feedback on my idea and the only thing they wanted in return was for me to try and bring this idea to life.
5) How will including this person in your network enhance your ability to exploit an opportunity?

Having her in my network will allow me to gain experience and new knowledge of the types of customers through her feedback.

Person 3

1) Who they are and what their background is.
Andrew, manager at the Honda dealership.
2) Which 'slot' you are filling with each person (i.e., domain expert, market expert, supplier), and how the person fills the spot.
Supplier - Since my idea involves installing my product into new cars, I needed to find someone close enough that supplies the cars, so the dealership manager was as close as I could get.
3) A description of how you found the person and contacted the person.
I actually got lucky on my resent visit and ran into the manager and asked if he had a quick moment to talk about my idea.
4) The nature of the exchange you have with the person -- what favor did they do for you? What is the return expectation? 
Again, he gave me some good feedback about my idea and how to improve it, as well as ways that I could possibly market my idea.
5) How will including this person in your network enhance your ability to exploit an opportunity?

Having him in my network if this idea became a reality. Would allow me to market my idea at his dealership possibly and also other Honda dealerships around the world.
Reflection - This experience has shaped how I become involved in future networking events, because I now have a better understanding of how to actually go out and target specific network opportunities for my idea. I would have to say it did differ because before I was just going out and networking and now I'm targeting a specific area like marketing, supplier and industry to get better results.

- William Garlock

Week 10 Reading Reflection

1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations?
During my associates degree I took some accounting classes, so nothings really surprised me, but I was pretty excited that near the end of the chapter they listed all the formulas.
2) Identify at least one part of the reading that was confusing to you.
Like I said, during my associates degree I took some accounting classes so a lot of the terms and topics were quite familiar. One thing I never did was the pro forma statements, so I had to take my time and read it.
3) If you were able to ask two questions to the author, what would you ask? Why?
Do you need a degree that focuses on accounting/finance to be success, or can everything be self taught especially if you're an entrepreneur with no college experience?
What was the hardest aspect to learn for financial accounting in your opinion?
4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?
A lot of the material in this chapter was pretty factual, so I didn't really have anything to disagree on, because a formula will not lie.

- William Garlock

Elevator Pitch No. 3

For my second pitch I had some good feedback, I was told I should work on some hand movements and maybe work on some pauses to sound more fluid. So for this elevator pitch I tried to move my hands around a little, to be honest I have no idea what to do with my hand, but I gave it a try. I also tried to add a little time in between sentences this go around. I just need to practice, practice, practice.

- William Garlock

My Secret Sauce

1) Describe five ways in which you think you have human capital that is truly unique. 
- Good with my hands - I would have to thank my first car for this skill and my dad for showing me the ropes when working on it. Although, its not just my car but fixing things in general
- Team player - I find myself to work very well with other people whether it is at work, or helping out my friends or family when need be.
- Analytical - I seem to always try to think things through analytically before making a decision so I can take into consideration of how it will effect myself and people around me.  
- Quick Learner - I've been told this by every manager I have worked for, which is only two, but I do feel like I'm good at retaining information when doing something new.
- Very laidback/patient - If you ever get to know me, you would easily notice I'm a very soft spoken person who doesn't let things get under my skin.

2) Interview the five people who know you the best. (Everyone wanted to be voice recorded instead of video taped.)

Mother - What I took away from my interview with my mom is that, I do find myself to make sure I do what I say I'm going to do and do what is best for the people around me. Also, like I said above I'm very laid back but I can also speak up and take things seriously.

Father - After doing my interview with my dad, he also said I was very dependable and I have a lot of integrity, I always like to do what is best for myself and everyone around me. He also mention I'm also good with my hands and I would have to say I get it from him as well.

Debbie(girlfriend) - My take away from this interview with Debbie, is that everyone is different and everyone has different skills. She talked about how I'm determined and if I want something I work for it. Also, she mentioned I like helping others and put others before myself, as well as I'm a easy going person.

Brother - Well my brother was being a pain and didn't want to be voice recorded or video taped, but he did answer the questioned. He also said I was good with my hands, especially when working on my car. He also mentioned that I'm a very determined person, because he would never go to school for as long as I have.

3) Reflect on the differences. 
I would have to say there are some things that others saw in myself that I didn't not. I guess the things that I didn't notice where just the things that come natural to me, like being dependable and putting others first. Like I said, I think these differences from my own choices and my interviewers are because I think they come naturally to me, and I would have to say they aren't wrong. I probably wouldn't make any corrections, because the things that I didn't not list that the interviewers mentioned where human capital that everyone should practice.

- William Garlock

Week 9 Reading Reflection

1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations?
What surprised me a little was that fact that the author mentioned many entrepreneurs know very little about there market. Which I would of thought that would be one of the key factors before venturing out.
2) Identify at least one part of the reading that was confusing to you.
I'm quite interested in marketing myself and didn't find anything really confusing. All in all this chapter was a good read.
3) If you were able to ask two questions to the author, what would you ask? Why?
How has marketing changed with how fast technology is growing?
In general, what do you think is the best way to market your business.
4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?
I would have to say I somewhat disagree with the author when he talked about integrating applications in daily life and the best way is to offer incentives. Sometimes all it takes is having an application that is user friendly and gets the job done best.

- William Garlock

Idea Napkin No. 2

1) You. 
I am William Garlock, a junior at University of Florida working on Bachelors in Business Administration. I am good with my hands as well as working with customers. My experiences are in customer service and finances, I worked at a grocery store in customer service for three years and now I'm currently working at a bank. If I were to start this business or idea, it would be helping out customers, which helping customers is something I enjoy doing.

2) What are you offering to customers? 
A way to deter theft in vehicles with a simple steering wheel quick release that can be installed into cars from the factory.

3) Who are you offering it to? 
This idea is for anyone really. As long as you have a car to drive, it is for you. Although, since it is more of an idea then a product, you would have to have a car that is new from the factory with the device installed. I would also go to manufacturers to pick my idea to them as well.

4) Why do they care? 
I think they would care, because nobody wants to get their car stolen and new cars aren't very cheap either. 

5) What are your core competencies? 

It would set any car manufacture apart from the rest, because nobody has yet to make this an option for a factory car right off the lot. There are aftermarket versions, but there are no versions straight off the lot from factory.

I would have to say my beliefs fit together into my concept, because I like helping people out and this is one way I could do that. There are some aspect of my business concept that are not as strong. Since this is something that would come from factory, it would mean it would only be available to new models of cars. A strong point to this though, is that they make aftermarket quick releases but none of them retain the airbag. So, if it were to come from factory with an airbag, it would definitely be a safer option.  

Feedback: For my second idea napkin I didn't change much, because I received a lot of good feedback from my fellow students. Almost all of them pointed out that I should definitely pitch my idea to local car manufactures to get the idea out there. I also think everyone liked my idea because car theft has actually been a personal experience for them, so that could help me out if I were to go talk to local car manufacturers about my idea.

- William Garlock

Week 8 Reading Reflection

1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations? 
What stood out to me in this chapter while reading, was at the end of the decade, it is predict that only 4,000 commercial banks will have survived these tough times. It also stood out to me because I work at a bank myself.
2) Identify at least one part of the reading that was confusing to you.
Nothing was really confusing to me because everything was explained very well in this chapter and working in a bank also helped with the terms used in this chapter.
3) If you were able to ask two questions to the author, what would you ask? Why?
If you were going to start a business in toady's economy, how would you go about funding it?
What do believe is the best option for funding a business?
4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?
I would have to say I didn't agree with the author on this weeks reading, because all his facts had a lot of information to back them up.

- William Garlock

Half-way Reflection

1) Tenaciousness is a skill. What are the behaviors that you have used (or developed) to keep up with the requirements of this course?

Some of the behaviors I have used to keep up with the requirements of this course are, making sure I log on to canvas every day to keep up with deadlines, and also setting a specific time I work on this class and this class only. Doing these few things definitely has helped me stay on top of deadlines and allow me to usually submit my work head of time.

2) Tenaciousness is also about attitude. Talk about a moment or two when you felt like "giving up." What pulled you through? Do you feel like you've developed a tenacious attitude during the past two months? What experience or experiences most contributed to this?

I will have to say, achieving this degree is a very important goal of mine, so I haven’t really had any thoughts of giving up just yet. Especially in this class, because the assignments are fun and unique. If I ever had the feeling of “giving up” though, I would just stop and think of all the rewards that will come once I am done.

3) Three tips. What are three tips you would offer next semester's student about (1) fostering the skills that support tenacity and (2) developing the 'tenacious mindset'?

My three tips would be:

Make sure you check canvas every day, since there is usually four to five assignments due a week.

Make sure you always share before you declare and actually due the assignment completely before you even submit it.

Make sure you have fun doing the assignments!

- William Garlock

Week 7 Reading Reflection

1) What surprised me about this reading article is when the author mentioned how the traditional demographic traits such as age, sex, educational levels, and income no longer serve as a basis for market strategy. 
2) I guess I would have to say that the above would be confusing. Is it because a lot of people no matter where they come from or who they are, just purchase because that item is in and popular?
3) In our day and age what demographic or group of people would you think are most worth pursuing? or Do you think the reason why, during WWII, products didn't need much advertising is, because the amount of products out there were not as diverse?
4) I would have to say I didn't agree with any of the authors ideas this times around.

- William Garlock

Elevator Pitch No. 2

Based off my first pitch, everyone seemed to like my concept and idea. I was told to show a little more passion, but I'm not sure if I hit that mark on this go around or not. So for my second go at my pitch I added a little more to it and changed the structure around completely to hopefully sell the idea a little bit better.

- William Garlock

Week 6 Reading Reflection

1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations? I would have to say the whole article itself stood out the most for me. Just the fact that there are a lot more competitive areas then just your rival, from customers to suppliers.

2) Identify at least one part of the reading that was confusing to you. One part of the article I wish he would of elaborated more on, was when he said "eliminating rivals is a risky strategy." He kind of went over it, but more details would've been nice.

3) If you were able to ask two questions to the author, what would you ask? Why? Out of the five forces, which one should we focus on the most? Also, out of those five is there a least important one we should give less attention too?

4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How? I don't think the author was wrong about anything, but I think there could be more then five factors. Although, they just might not be as serious as the ones stated in the article.

- William Garlock

Idea Napkin No. 1

1) You. 
I am William Garlock, a junior at University of Florida working on Bachelors in Business Administration. I am good with my hands as well as working with customers. My experiences are in customer service and finances, I worked at a grocery store in customer service for three years and now I'm currently working at a bank. If I were to start this business or idea, it would be helping out customers, which helping customers is something I enjoy doing.

2) What are you offering to customers? 
A way to deter theft in vehicles with a simple steering wheel quick release that can be installed into cars from the factory.

3) Who are you offering it to? 
This idea is for anyone really. As long as you have a car to drive, it is for you. Although, since it is more of an idea then a product, you would have to have a car that is new from the factory with the device installed.

4) Why do they care? 
I think they would care, because nobody wants to get their car stolen and new cars aren't very cheap either.

5) What are your core competencies? 

It would set any car manufacture apart from the rest, because nobody has yet to make this an option for a factory car right off the lot. There are aftermarket versions, but there are no version straight off the lot from factory.

I would have to say my beliefs fit together into my concept, because I like helping people out and this one way I could do that. There are some aspect of my business concept that are not as strong. Since this is something that would come from factory, it would mean it would only be available to new models of cars. A strong point to this though, is that they make aftermarket quick releases but none of them retain the airbag. So, if it were to come from factory with an airbag, it would definitely be a safer option.  

- William Garlock

Week 5 Reading Reflection

1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations?

I figured it was a big deal to get a patent, but I didn’t think the process would be so complex in securing one. Would be nice if you could just say, “here’s my idea, protect it.”

2) Identify at least one part of the reading that was confusing to you.

Although it would take a bit to cover this topic, but maybe going into more detail on the Revised Uniform Limited Partnership Act. Mainly, explain each article in a little more detail.

3) If you were able to ask two questions to the author, what would you ask? Why?

Besides copyright and trademark are there any other ways to protect my product or company, mainly in the long run? Also, out of the three major forms of legal organization, what would you go with?

4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?

I always find it hard to disagree or think something is wrong with what the author has said, especially when I'm the one learning this stuff. I will say this chapter has a lot of straight forward facts, so I couldn't really disagree to those.

- William Garlock

Elevator Pitch No. 1

This is more of an idea than an actual product, since it already has been created. But, every day there is a car theft every 46 seconds in the United States. I would like to incorporate the aftermarket steering wheel quick release to cars right off the lot. In hopes that it will deter car theft in the United States.

- William Garlock

Week 4 Reading Reflection

1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations?

While reading I came across the eliminating muddling mind-sets and read that adults only use two to ten percent of their creative potential. Just imagine what we could do if we had access to the other ninety percent of it.

2) Identify at least one part of the reading that was confusing to you.

I’m not really confused on the incubation process, but I’m just confused and want to know how the subconscious just randomly remembers stiff like that while you’re doing everyday things.

3) If you were able to ask two questions to the author, what would you ask? Why?

- What area of creativity is the most important to you?

- What do you think we could do with a hundred percent of their creative potential?

4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?

I would have to say there was nothing I would disagree on with the author on this one.

- William Garlock

Top 5 World Problems

Top Five Problems Ordered

1.     Pollution

2.     Water

3.     Nuclear Weapons

4.     Data Security

5.     Poverty

Top Five Solutions to the Problems Ordered

1.      Data Security - In my recent class, computing in the business environment, I learned that it is very important to make sure your employees are educated and aware of the potential threats. Also not just employees, but also educating the public will be very beneficial.

2.     Poverty - We can create jobs and wage increases where needed and earned. Sometimes it only takes that one extra person to get a job or a raise to lift that person out of poverty.

3.     Water - One way to fix this issue is to educate people on the consumption of water, not just taking shorter showers, but consequences as well if the problem isn’t fixed.

4.     Pollution - One way we could go about fixing the issue is by using or burning resources in a more environmentally friendly way or finding a new way all together for that specific job.

5.     Nuclear Weapons - One solution would get everyone to come together at the UN and get on the same page and find solutions to this problem.

I ranked Pollution as my top problem, because there are a lot of people in this world who just don’t care. Pollution is something that is only going to get worse if we don’t take action. It’s not just bad for the environment, but as very bad for our health, especially air pollution. Out of my top five problems and the solutions to those problems. The problem with the most implemental solution would have to be Data Security. Stored data for a company can be its biggest asset and all it takes is a little education and some software upgrades and you’re good to go.

- William Garlock

Week 3 Reading Reflection

1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations?

What I thought was surprising in this chapter reading was the massive amount of information that was given for the one topic, entrepreneur mind-sets. This section took up around six pages and talked about your inter locus of control to team building.

2) Identify at least one part of the reading that was confusing to you.

One part of the reading that I thought was confusing in this chapter would have to be the metacognitive model, because I noticed I had to go back and read it about two or three times to piece it all together.

3) If you were able to ask two questions to the author, what would you ask? Why?

The two questions I would have to ask the author about this chapter is, to explain the metacognitive model in a simpler way so that I can understand it better and what do you think is the best mind-set is to follow as an entrepreneur.

4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?

I would have to say that I didn’t think there was anything wrong with what the author talked about in this chapter.

- William Garlock